How Covid-19 Hit European Soccer Clubs In The Pocket

A new study by market analyst KPMG has found that Europe's biggest soccer clubs have lost €1 billion in revenue due to Covid-19. The pandemic has led to clubs having to play their games in empty stadiums, depriving them of badly needed revenue, while the volatility of the situation has caused uncertainty regarding sponsorships and other payments.

Some of the biggest declines in operating revenue were seen in Italy's Serie A with AS Roma experiencing a year-over-year fall of 39.3 percent while AC Milan had a 23.8 percent contraction. Elsewhere, PSG and Barcelona experienced a fall of around 15 percent while Manchester United saw its operating revenue contract 18.5 percent.